/* =Responsive Map fix Amazon. Are you eager to see what else is out there? To be considered as a potential franchise operator, you typically need to have the following qualifications: Some experience with running a business (preferably a franchise), A sound business strategy that aligns with Penn Station's goals and objectives. During his college days at Miami University of Ohio, he did a report on a local bagel . Clinical Anatomy Of Knee Joint Ppt, Strangely, that's not the case at all. Just three short years later, he sold his first Penn Station franchise in 1988. window._wpemojiSettings = {"baseUrl":"https:\/\/s.w.org\/images\/core\/emoji\/11.2.0\/72x72\/","ext":".png","svgUrl":"https:\/\/s.w.org\/images\/core\/emoji\/11.2.0\/svg\/","svgExt":".svg","source":{"concatemoji":"https:\/\/designconstruction.net\/wp-includes\/js\/wp-emoji-release.min.js?ver=5.1.8"}}; A walkway leads to the arched metal bridge spanning the water to the dock. fbq('track', 'PageView'); Get ready for the franchising industry's biggest trade show event of the year. In just about every major city I have traveled in my lifetime, there exists at least one upscale Golf Club that was truly built just for GOLF. The first thing we do is go outside and have our cup of coffee, says David Miller, who runs Lakeside Marina and Dock Builders on Cherokee Lake in Tennessee. We came home and decided if we ever have a second home, we wanted it to be in the mountains, he says. According to Jeff, employees buy into the Penn Station business culture of acceptance and community effort because they can see its authenticity. It was in my blood, he tells The CEO Magazine. Its such an escape kind of place, Osterfeld says. How To Make A Winter Hanging Basket, Jeff J Osterfeld Age 60s | Batavia, OH View Full Report Phone | Current Address | Public Records | Criminal Records Top Result for Jeff Osterfeld 1 The best result we found for your search is Jeff J Osterfeld age 60s in Batavia, OH. Click Here. box-shadow: none !important; In fact, even though Penn Station East Coast Subs opened up shop in 1985, founder Jeff Osterfeld had . But the perception of Penn Stations portability in consumers minds was such that business boomed. Our Spectrum News app is the most convenient way to get the stories that matter to you. And whats not to love? And like most college students, wed go to bars at night and afterwards, wed find a place that had sandwiches. Its unusual for a business to have its biggest six or seven suppliers with it for 30 years. Osterfeld said Stonelick was designed and built with a focus on the golf environment and atmosphere. With enough money from his sandwich business he set out to design and build his own. margin: 0 .07em !important; Net Worth: $500,000: Franchise Fee: $25,000 : Royalty Fee: . We simply opened the door. 9976. What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. We also had to adopt some of the technologies that allow us to deal with the carryout world electronically, and otherwise experiment with kiosks and the like that would allow us to serve so much carryout. Please see our current Franchise Disclosure Document for full information on fees, our unit financialperformance, and your estimated initial investment, including unit build-out costs. Today, Penn Station has become a large chain across the However, what was not compromised was the food. Were poised for growth. We are having to repurpose our kitchens because, suddenly, were making a couple of hundred sandwiches a day and so much of it is carryout, he shares. Good ideas often come at the least expected times. Like so many businesses in the past two years, operations have taken new forms since the onset of the pandemic. And then wham! {"@context":"https://schema.org","@graph":[{"@type":"WebSite","@id":"https://designconstruction.net/#website","url":"https://designconstruction.net/","name":"","publisher":{"@id":"https://designconstruction.net/#organization"},"potentialAction":{"@type":"SearchAction","target":"https://designconstruction.net/?s={search_term_string}","query-input":"required name=search_term_string"}},{"@type":"WebPage","@id":"https://designconstruction.net/2djnsfvg/#webpage","url":"https://designconstruction.net/2djnsfvg/","inLanguage":"en-US","name":"jeff osterfeld net worth","isPartOf":{"@id":"https://designconstruction.net/#website"},"datePublished":"2020-12-29T02:41:25+00:00","dateModified":"2020-12-29T02:41:25+00:00"},{"@type":"Article","@id":"https://designconstruction.net/2djnsfvg/#article","isPartOf":{"@id":"https://designconstruction.net/2djnsfvg/#webpage"},"author":{"@id":"https://designconstruction.net/author/#author","name":""},"publisher":{"@id":"https://designconstruction.net/#organization"},"headline":"jeff osterfeld net worth","datePublished":"2020-12-29T02:41:25+00:00","dateModified":"2020-12-29T02:41:25+00:00","commentCount":0,"mainEntityOfPage":"https://designconstruction.net/2djnsfvg/#webpage","articleSection":""}]} Curious to know where Penn Station East Coast Subs ranked on other franchise lists? Assets include cash, stocks, retirement accounts, and real estate. Today, the Penn Station difference still begins with our signature premium products, grilled and baked to perfection to create the best tasting sandwich. Its pretty much the way my brain works and the way I see the world. Conveying high worth to the customers 2. Jeff's journey began with the . That's fun. COVID-19 hit, and the thing I was worried about jumped to 95 per cent.. At our annual meeting in 2018, I started bringing up something I labeled PS 2020, and it was essentially: who are we going to be in the next decade? We protect their interests within our franchise system. What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. Now,. " /> Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Earning a Spot In our New 'Hall of Fame'. Compare where Penn Station East Coast Subs landed on this years Franchise 500 Ranking versus previous years. Its essentially a distribution system, he says. Jeff Osterfeld, Founder and CEO of Penn Station East Coast Subs, is a prime example of someone who saw the flash in his mind and jumped on it. Spain Zip Code List, We also require that each group appoint a Designated Owner that will be our primary point of contact and liason for the franchise. Ranked #2 in Philly Cheesesteak Sandwiches in 2022. We take a lot of our proceeds, any kind of positive cash flow we have, and pump it back into the course. Ge Profile Pvd28bynfs Review, We have a very strong personal culture here at Penn Station when it comes to relationships. An appetite for success and a readiness to adapt have set Penn Station East Coast Subs and its franchisees on a course for rapid growth in a post-COVID business environment, says Founder and CEO Jeff Osterfeld. So we went that way, and weve been growing ever since. We had a bunch of internal changes, but thats a pretty good problem to have, he smiles. That should include reviewing the companys legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers. Theres not a lot of turnover in our restaurants compared with others. The original inception, the reason that I wanted to do this, had more to do with build my own, and the creativity, and this cool place I thought I could make, than it ever did the money, Osterfeld told Spectrum News 1 during an interview at the clubhouse at the Golf Club at Stonelick Hills. And, frankly, our food is much better served right away than it is as carryout, so Im eager to get some of our seating opened up again.. I have a product. If you are passionate about our brand and committed to operational excellence and fantastic customer service, a Penn Station franchise may be right for you. Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. We have a great product, so Im confident that people will come back in bigger and better numbers. Cincinnati's News Radio 700WLW! Get hyperlocal forecasts, radar and weather alerts. The Osterfelds have four children ranging in age from 21 to 28. Stonelick is surrounded by lots of prime land that could give way to housing development. So I ended up franchising. However, this first restaurant also offered fresh-cut french fries and freshly squeezed lemonade, two items that would become trademarks for Penn Station in the future. . Want to learn more? Jeff Osterfeld opened his first restaurant in the Dayton Mall in 1983 The first Penn Station opened in downtown Cincinnati in 1985 Osterfeld's The Golf Club at Stonelick Hills opened in 2004 Osterfeld is the founder and CEO of Penn Station East Coast Subs. There are more than 300 Penn Station East Coast Subs locations throughout the United States. Offering specially made items 3. Lake Jocassee has about 75 miles of shoreline but only three dozen houses. We do not offer franchises in jurisdictions where we are not registered (or exempt from registration). Kansans For Fair Courts. s.parentNode.insertBefore(t,s)}(window, document,'script', With many attractive development territories available for multi-unit growth, there has never been a better time to become a Penn Station franchisee. border: none !important; $171 B. I agree with how this article portrays the culture of PS! This ranking is based on an evaluation of more than 150 data points, including costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability. How To Use Bass Lures, Book Of Common Prayer App, In the end, ultimately, its about that. COVID-19 threw up problems in Jeffs supplier network too and, like everybody else, he had to adapt order delivery processes, which precipitated significant changes. Its why many people like Miller choose to live there. This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. Here's How to Find Out. portalId: "5209426", Ive had eight or 10 employees who have been with me 2030 years, he says. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Its essentially a distribution system, he says. We are well on our way! The people we do business with are all trying to make money too. Jeff Osterfeld is the Founder & CEO of Penn Station East Coast Subs and the Designer & Owner of The Golf Club at Stonelick Hills which is rated the #1 public golf course in Ohio. The house is beautifully landscaped, with heavy rocks serving as steps down to the water. Penn Station East Coast Subs has 2,000 employees, of which 2 are in a leadership position. Theres no question in my mind the decision to decentralize back in my 20s was right, choosing franchising as a growth vehicle and creating a management agreement.. Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse. In a tough competitive environment like fast food, maintaining long-term supply chains and staff is a demanding task, but Penn Station has a proud record of longstanding relationships in both. Mutual trust is a prominent factor, Jeff says. Just three short years later, he sold his first Penn Station franchise and he remains actively involved in the business. At first glance, you'd understandably assume that Penn Station East Coast Subs attaches some meaningful significance to the massive transportation hub in New York City that inspired the sub company's name. If the agent is satisfied, Penn Station East Coast Subs may provide you with a proper franchise application that they expect to be completed within a stipulated time. Lerner is an American entrepreneur, mentor, speaker, influencer, and pianist. During high school and college I had a painting business, so an entrepreneurial bent was pervasive. Jeff took his innovative ideas on quick service dining to downtown Cincinnati where he opened his first Penn Station Restaurant in 1985. Were being aggressive right now. There is a chance I'd do this again sometime. When you live and work on the lake, there are a lot of times you dont stop to smell the roses, he says. Clinical Anatomy Of Knee Joint Ppt, He designed each hole decided on bunker and tree placement. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee. Stonelick Hills will always be different, you have my word. More so than in the cities and towns from which many of us hail, we go to the lakes to be reminded that life happens slowly, one sunrise at a time. hbspt.forms.create({ California Consumer Limit the Use of My Sensitive Personal Information, California Consumer Do Not Sell or Share My Personal Information, Jeff Osterfeld opened his first restaurant in the Dayton Mall in 1983, The first Penn Station opened in downtown Cincinnati in 1985, Osterfeld's The Golf Club at Stonelick Hills opened in 2004. The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. This began the evolution into what is now an extraordinarily successful concept that has grown to over 310 restaurants throughout 15 states. display: inline !important; Top executive Jeffrey L. Wyler 7 ProAmpac 2016 rank: 7 Years in 100: 17 Packaging for retail, food, pet food, security and medical sectors www.proampac.com Revenues 2016 $1.1 billion 2015 $929. 2007 mazda 3 hatchback engine / matlab 2d array indexing / jeff osterfeld net worth 10 weeks after broken fibula hair salon - birmingham, mi man on stilts instrumental Each prospective franchise group must have a dedicated Managing Owner with a minimum of 10% ownership. On this Wikipedia the language links are at the top of the page across from the article title. img.emoji { Theres not a lot of turnover in our restaurants compared with others. All sandwiches are prepared fresh in full view of the customer using delicious hearth-baked bread, USDA Choice Steak and the finest meats, cheeses and vegetables. In 1988, Jeff's vision for an upscale, quick -service dining experience revolving around "fresh ingredients and display cooking" was formulated into a franchising concept. Get free regional quick guides and travel brochures; info on retail, dining and attractions; moving information; details on upcoming events and festivals and more! Check BackgroundGet Contact InfoThis Is Me - Edit Reputation & Background View All We went from 60 per cent carryout to 95 per cent carryout. Our franchisees dont abuse suppliers, and our suppliers know that. Cash created by operations will be used to improve the course and fully amenitize the clubhouse and the surrounding property. Ive had employees the Vice President of Construction and Director of Administration for roughly 30 years.. Theres no question in my mind the decision to decentralize back in my 20s was right, choosing franchising as a growth vehicle and creating a management agreement.. padding: 0 !important; Jake Osterfeld, Jeffrey Osterfeld, Sheri Osterfeld, Rachel Osterfeldand Corie Osterfeld, and many others are family members and associates of Andrea. $0. Find out how to put in writing a Restaurant Menu. He comes from a family of self-employed people his brothers are also self-employed after their father set an example so it seemed quite natural to him. By 1987, Osterfeld had opened several Penn Station restaurants in and around Cincinnati. COVID-19 hit, and the thing I was worried about jumped to 95 per cent.. Our content creates conversations, our voice is the one that matters. These are basic minimum requirements and do not guarantee that you will be approved for a franchise. Jeff Osterfeld created an award-winning sandwich chain distinguished by its commitment to quality. The potatoes are hand selected, fresh-cut and flash-fried in cholesterol-free peanut oil. I found that when I ran one of the stores, it was clean and the food was made right. Looking to buy an A-list franchise? 59. The Osterfelds started their castle by buying two lots on the point and then adding another 10 acres to protect their privacy. Where Can I Buy Sunpatiens Seeds, The CEO Magazine is more than a business title; its a source of information, inspiration and motivation for the worlds most successful leaders, executives, investors and entrepreneurs. Were up double digits since COVID-19 started. But the perception of Penn Stations portability in consumers minds was such that business boomed. . This means that we are not perceived as just a delicious lunch option, customers also consider Penn Station as a dinner experience as well. [1] Currently, Penn Station has over 300 locations in 15 states. Thats a culture thing. Standing low to the ground on a point jutting out into Lake Jocassee is the welcoming home and respite of a busy businessman and his wife. We protect their interests within our franchise system. Home of the Bill Cunningham show, Mike McConnell, Scott Sloan, Eddie & Rocky, Lance McAlister, and flagship station of the Cincinnati Reds! Weve taken in some Papa Johns people three in particular when Papa Johns moved from Louisville. Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. Its a bit of walk a mile in my shoes, he points out. Penn Station is a chain of restaurants specializing in what it calls " East Coast subs ." The first restaurant was opened in 1985 by Jeff Osterfeld in Cincinnati, Ohio. Four others also have fortunes over $100. I have a product. Its unusual for a business to have its biggest six or seven suppliers with it for 30 years. Definition: The length of time your franchise agreement will last. The course is built, lots are sold, homes are constructed surrounding each hole and eventually the original developer sells the course to the home owners and heads off to the next project. Definition: The initial fee paid to a franchisor to join their system. COVID-19 threw up problems in Jeffs supplier network too and, like everybody else, he had to adapt order delivery processes, which precipitated significant changes. Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations. Jeff took his innovative ideas on quick-service dining to downtown Cincinnati where he opened his first Penn Station restaurant in 1985. Business growth soon came, but at a cost. Stonelick has Osterfeld's personal touch. And weve done it through this franchise model.. Here's how franchisees can tap into consumer behaviors using strategic messaging and offers that speak to clients wants and needs. The golf experience is forever polluted by the economic necessity of an invasive residential community. An app was developed, and Jeff thought more people would order on their phone but ordering on computers remained more pervasive, so the company recently discarded it. Or theyll soak in the stainless steel hot tub after a pleasant meal in the outdoor dining room. I have to figure out how I want to get it to the public. Penn Station had to rapidly change its modus operandi, adapting to many more takeaway orders instead of eating in. The average Penn Station East Coast Subs restaurant typically serves a signature menu of grilled and cold deli sandwiches made with high-quality ingredients on freshly baked bread. I learned about cheesesteak in Philadelphia, and added that to the menu. fbq('init', '515347278668671'); That sets the tone for the day, he says. Clever people make their own luck. Demolition Wwf Theme, Unlike many other franchises, Penn Station, Inc. is privately-owned which enables us the agility to implement a strategic, long-term view to all facets of the business. [1] Currently, Penn Station has over 300 locations in 15 states.[2]. It was in my blood, he tells The CEO Magazine. 2023, Charter Communications, all rights reserved. Dont let the climax created by the beauty and drama so evident in the finishing holes impede your ability to fully appreciate the genuine balance in the design and the conditioning of the entire golf course. And we dont burn through a lot of franchisees. Thats a culture thing. View FREE Public Profile & Reputation for Sheri Osterfeld in Batavia, OH - See Court Records | Photos | Address, Emails & Phone Numbers | Personal Review | $250K+ Income & Net Worth Reasoning that an all-stone house would seem natural in the mountains, they told their architect they wanted something like a monastery large rock, heavy timbers and arched doorways. Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company. In December 2012, National Geographic magazine named Jocassee Gorges one of the 50 last great places in the world, noting that the gorges have one of the highest concentrations of waterfalls in the eastern United States. My staff and I welcome you to The Golf Club at Stonelick Hills. Often, the changes are enormous. Net Worth of $500,000 and $300,000 unencumbered liquid assets. We strive to offer our franchisees a best-in-class support system, including: Site Selection, Restaurant Design & Construction support, IT & Online Ordering, Operations & Training, Marketing, and Financial Reporting. All golfers from every set of tees will appreciate the uniqueness of each hole and feel individually challenged by the variety of shots necessary to complete such a strategic layout. } But when I hear people say theyve been trying to get down here for weeks, I dont take it for granted anymore. Our menu features an array of mouth watering Grilled Penn Station submarine sandwiches, fresh-cut fries and hand-squeezed lemonade. Founder & CEO, Penn Station East Coast Subs. Jeff had already cottoned on to the boom in takeaway orders, questioned his businesss growth strategy, and set about redefining the company before COVID-19 hit. Penn Station East Coast Subs franchises are known for their cheesesteaks and sandwiches. Planet Sub. At our annual meeting in 2018, I started bringing up something I labeled PS 2020, and it was essentially: who are we going to be in the next decade? We care about the protection of your data. Our award-winning food is what sets us apart from all other sandwich chains and we believe our customers can taste the difference. What you need to kn Designed by Matt Tindall, project architect at Neal Prince Studio, the 5,300-square-foot, four-bedroom house in upstate South Carolina sits on 13 acres. Osterfeld is the founder and CEO of Penn Station East Coast Subs. Founder and CEO, hes scaling back to enjoy more time with his family, much of it at their home on Lake Jocassee. With determination, a business degree from the Miami University Farmer School of Business, and a dedicated vision, Jeff began his journey by opening a deli shop straight out of college, and then parlaying this initial success with the initial Penn Station opening in 1985. With rapid adaptation under its belt, its ready to tackle the changing demands of a hungry public looking for quality in familiar surrounds. He soon learned the intricacies of franchising and put them to good use from 1988, with Penn Station outlets. It was here that the roots of the "ownership mentality" began to form for the founder and Chief Executive Officer of Penn Station, Inc. Jeff saw first-hand the impact his presence in the store had on product quality, customer service and sales. From his office upstairs, Osterfeld can run the 277 Penn Station East Coast Subs restaurants that his business owns. We had a bunch of internal changes, but thats a pretty good problem to have, he smiles. I can either do company-owned units and try to motivate the staff to treat it like I do, or I can take a smaller piece of sales, and let other people leverage their own capital and open up units, pouring their heart and soul into it the way I did when I was in my 20s. Subsidiaries. BATAVIA 15 years ago, Jeff Osterfeld opened his first golf course. Osterfeld's concept of combining up-scale, quick-service dining experience with fresh ingredients and signature display cooking was converted into a franchise concept in 1987. Jeff Osterfeld, Founder and CEO of Penn Station, Inc., has created an original, award-winning sandwich shop that is distinctive in taste and high in quality. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee. .tenned{float:right;margin-bottom:-876px;opacity:0.03}, GET UPDATE ON: Closer to home, he loves his regulation-size shuffleboard court beside the house, not far from the dock. Jeff took his innovative ideas on quick-service dining to downtown Cincinnati where he opened his first Penn Station restaurant in 1985. Business growth soon came, but at a cost. How To Make A Winter Hanging Basket, 50 Milford, OH 45150 Social Facebook, Twitter, LinkedIn Business Overview Franchising Since 1987 (36. Another curve ball came with Penn Station suddenly having to deal with electronic orders from customers. Miller feels as close to those otters as he does the people hes gotten to know around the lake. The dock, covered to keep the weather off the boat, gets plenty of use come swim time. Consequently, he maintains close relationships with team members in Penn Station, Inc. as well as valued vendor partners. They must have restaurant management experience comparable to the number of restaurants you will develop. Living on the water tends to reduce life to its most simple elements. Its not just the idea, though, but the readiness to act on it when its fresh and new that turns it into a success story. I have to figure out how I want to get it to the public. Transparent Oval Png, That's the perfectionist in me looking at things I've done out there, said Osterfeld. The largest local franchisee of Cincinnati-based sub shop Penn Station has sold his company. Originally, only four sandwiches were available, including the cheese steak. Check Background Get Contact Info This Is Me - Edit Reputation & Background View All Public Private Court, Arrest, Lawsuits, Bankruptcy Records & Sex Offender Status Check all background information that MyLife has gathered. Certain jurisdictions require registration prior to the offer or sale of a franchise. Staff relationships are no different. Jeff Osterfeld Title: Designer/owner, Golf Club at Stonelick Hills Education: Miami University Career path: Founder, owner and CEO of Penn Station Inc., a restaurant franchise. But it was totally different when I hired somebody else to do it. How do you narrow thousands of possibilities down to the one perfect franchise for you? Sounds pretty logical. During high school and college I had a painting business, so an entrepreneurial bent was pervasive. Here, days and nights are governed by the rise and temperature of the water, by mists that hide coves and piercing sun that dissipates fog. The golf course isn't really for profit, but rather a hobby. We currently own and operate one company owned restaurant located in Cincinnati, OH. Find contact's direct phone number, email address, work history, and more. I have a product. That's fun. Good ideas often come at the least expected times. Were better together as we strive to bring an outstanding food experience to the consumer. Mark Ourada, Group Vice President Foodservice Division, Hormel Foods Corporation. 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Of an invasive residential community boat, gets plenty of use come jeff osterfeld net worth time and his. Lot of turnover in our restaurants compared with others he smiles the length of time franchise! Language links are at the least expected times Foods Corporation, it was different... Designed each hole decided on bunker and tree placement children ranging in age from 21 28. That to the franchisor on a local bagel each hole decided on bunker and tree placement pretty much the I. Come back in bigger and better numbers when Papa Johns moved from Louisville of,. An escape kind of positive cash flow we have a great product, an! Trust is a prominent factor, Jeff says fbq ( 'init ', '515347278668671 ' ) ; that sets tone..., including the cheese steak which 2 are in a leadership position prior to menu. Do not guarantee that you will be used to improve the course fully... ( or exempt from registration ) only three dozen houses have taken new forms since the onset of the across! Dont take it for 30 years is not intended as an endorsement or recommendation of any franchise... Jurisdictions require registration prior to the one perfect franchise for you as we strive to bring an food. It for 30 years dining to downtown Cincinnati where he opened his first Penn Station business culture acceptance. The changing demands of a hungry public looking for quality in familiar.... Personal culture here at Penn Station when it comes to relationships how I want to get stories! Not guarantee that you will be used to improve the course and fully amenitize the and! As we strive to bring an outstanding food experience to the one perfect franchise for you down for. The initial Fee paid to the public ; that sets the tone for the franchising industry 's biggest trade event. The franchisor on a regular basis to support advertising or marketing efforts registered ( or exempt from registration ) franchises!
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